UNGETF / FundUnited States Natural Gas Fund, LP
Verdicts genuinely change. Free email alert the moment UNG's does — no target price to set, unlike "Alert" above.
Whether this fund clears the published standards, and the filings behind that answer. The screen runs first and nothing on the trading side can override it.
Structure, momentum, positioning and levels. Separate from the Sharia verdict above, which this side never overrides.
UNVERIFIED No usable holdings filing was found for this fund.
Natural Gas — futures-based. Screened on its product structure, not by looking through to holdings: there is no issuer behind the metal to screen.
The fund never possesses the commodity. It holds cash-settled futures and rolls them, so both legs of every contract are deferred — bay' al-kali' bi al-kali', a debt for a debt, which this site already treats as impermissible for futures generally.
This is a structural read of a known product, not an audit of its filings. It cannot see metal lending, interest earned on a cash sweep, or a custodian arrangement that generates yield.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Why this signal?
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
United States Natural Gas Fund, LP (UNG) is currently considered not halal (non-compliant), per our own read of what this product is, rather than a look-through to its holdings (last assessed 2026-08-29). See what it holds below, and the reading of its structure that decided it.
🕌 In-house Compliance Research
Computed from published company financials, balance sheet as of 2026-06-30. UNG files no SEC reports, so these ratios come from the issuer's own published statements rather than XBRL.
Business activity: cleared (no excluded categories detected)
AAOIFI Fail 1 of 2 ratios pass
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 0.00% | 30.00% | Pass |
| Interest-bearing investments | 317.80% | 30.00% | Fail |
Usmani Fail 1 of 3 ratios pass
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 0.00% | 33.00% | Pass |
| Interest-bearing investments | 97.91% | 33.00% | Fail |
| Non-liquid assets | 2.09% | at least 20.00% | Fail |
MSCI Fail 1 of 3 ratios pass
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 0.00% | 33.33% | Pass |
| Cash + interest-bearing securities | 97.91% | 33.33% | Fail |
| Accounts receivable | 97.91% | 33.33% | Fail |
FTSE Fail 1 of 3 ratios pass
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 0.00% | 33.33% | Pass |
| Cash + interest-bearing securities | 97.91% | 33.33% | Fail |
| Accounts receivable | 97.91% | 50.00% | Fail |
Research only, not investment advice. Thresholds are each standard-setter's published limits; a ratio marked “at least” is a floor, not a ceiling.
How close is it to flipping?
Every current reading against its own line, closest first. A verdict is only as durable as that distance.
The numbers the ratios are built from
Read from UNG's own filings. Every percentage on this page is one of these lines divided by another, so the inputs are shown rather than asserted.
| Line | Figure | As reported | Read from |
|---|---|---|---|
| RevenueTotal revenue for the period | $5.4M | 2025-12-31 | Revenues |
| Interest-bearing debtShort and long-term borrowings | $0 | 2026-06-30 | no debt tag reported in 3+ years (treated as $0) |
| Cash and interest-bearing securitiesCash, equivalents and marketable securities | $412.9M | 2026-06-30 | CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
| Total assetsBalance sheet total | $421.7M | 2026-06-30 | Assets |
| Market capDenominator for AAOIFI | $129.9M | live quote | price x shares |
| 36-month average market capDenominator for S&P Shariah and MSCI M-Series | $706.5M | 756 trading days | closes x shares |
| 24-month average market capDenominator for Dow Jones Islamic Market | $602.1M | 504 trading days | closes x shares |
| Non-permissible revenueInterest and excluded income | $7.6M | 2025-12-31 | InterestIncomeOperating |
Two dates, not one: a balance-sheet line and an income-statement line cover different windows by design, so each figure carries its own.
What changed, and when
Verdict history for UNG. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
- 2026-09-07 No change recorded No verdict change for UNG has been recorded since tracking began. The scan ledger records that the compliance detectors ran, not which symbols each pass covered.
Tracked since 2026-09-07.
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
Price Forecast
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally below. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
Technical Summary
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
Every indicator, and what it reads
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 36.10 | NEUTRAL |
| Stochastic %K (14) | 15.57 | BUY |
| CCI (20) | -143.76 | BUY |
| Williams %R (14) | -84.43 | BUY |
| MACD (12,26,9) | -0.17 | SELL |
| ROC (10) | -15.51 | SELL |
| Momentum (10) | -1.77 | SELL |
| EMA (10) | 10.09 | SELL |
| SMA (10) | 10.26 | SELL |
| EMA (20) | 10.34 | SELL |
| SMA (20) | 10.50 | SELL |
| EMA (30) | 10.41 | SELL |
| SMA (30) | 10.57 | SELL |
| EMA (50) | 10.47 | SELL |
| SMA (50) | 10.47 | SELL |
| EMA (100) | 10.69 | SELL |
| SMA (100) | 10.64 | SELL |
| EMA (200) | 11.38 | SELL |
| SMA (200) | 11.22 | SELL |
About United States Natural Gas Fund, LP
The fund invests primarily in futures contracts for natural gas that are traded on the NYMEX, ICE Futures Europe and ICE Futures U.S. (together, “ICE Futures”) or other U.S. and foreign exchanges. The Benchmark Futures Contract is the futures contract on natural gas as traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration.
Background via Yahoo Finance — informational, not part of the verdict.
Weak — low conviction, small size or skip
SMC — Top Down
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
| Timeframe | Bias | Bars |
|---|---|---|
| 📅 Daily | BEARISH | 41 |
| ⏰ 4H | BEARISH | 78 |
| 🕐 1H | RANGING | 98 |
| ⏱ 15-Min | BULLISH | 130 |
| ⏲ 5-Min | RANGING | 234 |
Momentum & Volume
Rate of change and relative volume against this symbol's own recent history. Momentum describes what price has done; it is not a claim about what it will do.
Peer Movement
How the rest of the sector moved over the same window. Context for a price move, never a cause of one.
Peer movement computing — it will appear here on its own.
Before you act on this
The questions worth asking about any verdict on this page, answered plainly.
Is a fund screened on its name?
No. HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A fund marketed as Islamic still gets the same look-through as any other.
What does unrated weight mean?
It is the share of the fund whose holdings HTR cannot cover far enough to rate. It is reported as unrated rather than counted as compliant, because a holding nobody screened should not look like one that passed.
Does the issuer's board make it compliant?
It matters, and it is noted, but it does not replace the look-through. The board's judgement and the holdings screen are shown separately so you can see when they agree and when they do not.
How often is this re-screened?
When the fund files new holdings, and on a rolling basis besides. The date on the verdict above is the last time this fund was actually recomputed.
Open research, not a fatwa. HTR applies published screening standards to filings and publishes what they say, including when they disagree. Nothing here is financial advice or a recommendation to buy or sell. Verdicts can change when new filings land.
Compare with
Same screen, different answers. Comparison is where the standards disagreeing becomes useful rather than confusing.
Peer screening computing — it will appear here on its own.
Insider Activity (90d)
Insider transactions reported in the last ninety days. Insiders sell for reasons that have nothing to do with a view, so a sale on its own is not a signal.
NO DATA 0 buys · 0 sells
COT Positioning — E-MINI S&P 500 - CHICAGO MERCANTILE EXCHANGE
The weekly CFTC Commitments of Traders report for the broad market it tracks, not for this symbol. Positioning context for the tape — it says nothing about this company.
NEUTRAL report date 2026-10-20 · Asset managers net 901377 (-14458)
AI Summary
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.